BAFL 52.67 Increased By ▲ 2.64 (5.28%)
BIPL 22.97 Increased By ▲ 0.56 (2.5%)
BOP 5.68 Increased By ▲ 0.26 (4.8%)
CNERGY 5.11 Increased By ▲ 0.06 (1.19%)
DFML 19.30 Increased By ▲ 0.12 (0.63%)
DGKC 80.77 Increased By ▲ 0.62 (0.77%)
FABL 33.25 Increased By ▲ 0.40 (1.22%)
FCCL 20.40 Increased By ▲ 0.15 (0.74%)
FFL 10.33 Increased By ▲ 0.68 (7.05%)
GGL 13.55 Decreased By ▼ -0.05 (-0.37%)
HBL 128.15 Increased By ▲ 6.81 (5.61%)
HUBC 123.75 Increased By ▲ 1.25 (1.02%)
HUMNL 8.03 Increased By ▲ 0.03 (0.38%)
KEL 4.42 Increased By ▲ 0.45 (11.34%)
LOTCHEM 28.02 Decreased By ▼ -0.06 (-0.21%)
MLCF 43.14 Increased By ▲ 0.94 (2.23%)
OGDC 124.70 Increased By ▲ 3.37 (2.78%)
PAEL 21.20 Increased By ▲ 0.97 (4.79%)
PIBTL 6.15 Increased By ▲ 0.35 (6.03%)
PIOC 118.60 Increased By ▲ 2.70 (2.33%)
PPL 113.50 Increased By ▲ 2.75 (2.48%)
PRL 31.80 Increased By ▲ 2.22 (7.51%)
SILK 1.11 Increased By ▲ 0.03 (2.78%)
SNGP 69.61 Increased By ▲ 0.58 (0.84%)
SSGC 13.71 Increased By ▲ 0.01 (0.07%)
TELE 9.04 Increased By ▲ 0.29 (3.31%)
TPLP 14.84 Increased By ▲ 0.17 (1.16%)
TRG 92.47 Increased By ▲ 1.17 (1.28%)
UNITY 27.68 Increased By ▲ 0.43 (1.58%)
WTL 1.68 Increased By ▲ 0.05 (3.07%)
BR100 6,803 Increased By 155.4 (2.34%)
BR30 24,203 Increased By 634.4 (2.69%)
KSE100 66,093 Increased By 1374.5 (2.12%)
KSE30 22,093 Increased By 498.6 (2.31%)

Under the ICT (tax on services) Ordinance, 2001, the government of Pakistan proposed to reduce services tax on restaurants to 5% in fiscal year 2023-24 if payment is made through debit or credit cards, mobile wallets or QR scanning in Islamabad Capital Territory.

In one of the salient features of budget 2023-24 unveiled on Friday, the document stated that “services provided by restaurants including cafes, food (including ice-cream) parlors, coffee houses, coffee shops, deras, food huts, eateries, resorts and similar cooked, prepared or ready-to-eat food service outlets are proposed to be taxed at 5% if payment is made through debit or credit cards, mobile wallets or QR scanning”.

Comments

Comments are closed.

Tulukan Mairandi Jun 09, 2023 10:45pm
Pakistan doesn't want cashless payments to protect cash hoarders. So it's taxed.
thumb_up Recommended (0)
Abdul Mateen Majeed Aug 07, 2023 10:59pm
I paid 15%tax at McDonalds in Islamabad despite paying with my Credit Card. It seems they are not pushed by their actions. Either FBR should remove this so we don't haggle with them or implement it in true spirit.
thumb_up Recommended (0)

On digital payments: services tax on restaurants in ICT reduced in federal budget

Palestinian Authority working with US on postwar plan for Gaza

Inter-bank: rupee sees 9th consecutive gain against US dollar

Open market: rupee stable against US dollar

ECP issues notice to PTI regarding petitions challenging intra-party polls

OGDCL discovers hydrocarbon reserves in Sindh

Supporting agriculture sector: SBP greenglights HBL’s Zarai Services

US criticizes Israel on Gaza civilian toll as UN to hear ceasefire demand

Oil heads for 7th weekly loss with supply surplus, weak China demand

Gold price per tola down Rs300 in Pakistan

Renshaw hits century against Pakistan in Warner ‘audition’